Stock Analysis on Net

ServiceNow Inc. (NYSE:NOW)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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ServiceNow Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable
Accrued expenses and other current liabilities
Current portion of deferred revenue
Current portion of operating lease liabilities
Current debt, net
Current liabilities
Deferred revenue, less current portion
Operating lease liabilities, less current portion
Long-term debt, net, less current portion
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.001 par value; no shares issued or outstanding
Common stock, $0.001 par value
Treasury stock, at cost
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (accumulated deficit)
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


The balance sheet exhibits substantial expansion over the analyzed period, characterized by a significant increase in both total liabilities and stockholders' equity. Total liabilities grew from 5,785 million US dollars in March 2021 to 12,653 million US dollars by March 2026. Concurrently, stockholders' equity experienced an even more pronounced increase, rising from 3,037 million US dollars to 11,728 million US dollars over the same timeframe.

Liability Structure and Composition
Current liabilities demonstrate a strong upward trajectory, primarily driven by the current portion of deferred revenue. This item grew from 2,994 million US dollars in March 2021 to 8,030 million US dollars by March 2026, indicating a significant increase in prepaid customer obligations. Accrued expenses and other current liabilities also saw a steady rise, reaching 1,408 million US dollars by the end of the period.
Long-term debt remained remarkably stable, fluctuating minimally around 1.48 billion to 1.49 billion US dollars. This suggests that the company's growth has been funded through operational cash flows and equity rather than through the issuance of new long-term debt.
Operating lease liabilities increased moderately, with the non-current portion rising from 420 million US dollars in March 2021 to 822 million US dollars in March 2026.
Equity Trends and Capital Management
A critical shift is observed in retained earnings, which transitioned from an accumulated deficit of 152 million US dollars in March 2021 to a substantial surplus of 5,711 million US dollars by March 2026. This trend indicates a move toward sustained and increasing profitability.
The company engaged in an aggressive share repurchase program, as evidenced by the treasury stock account. Treasury stock grew from zero in early 2021 to a contra-equity balance of 5,375 million US dollars by March 2026, representing a significant return of capital to shareholders.
Additional paid-in capital showed consistent growth, increasing from 3,133 million US dollars to 11,384 million US dollars, reflecting historical capital injections.
Overall Financial Position
The expansion of the balance sheet is primarily operational and equity-driven. The growth in total liabilities is heavily weighted toward deferred revenue, which is a leading indicator of future revenue recognition rather than a traditional financial burden. The combination of flat long-term debt and rapidly growing retained earnings suggests a strengthening solvency position and increased internal funding capacity.